David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Business Ethics 16 (8):835-842 (1997)
Economic profits differ from accounting profits. Accounting profits are usually defined as revenues minus costs, and those costs as fixed and variable. Economic profits enlist a third cost, opportunity costs. While these costs are difficult to determine with mathematical precision, they are nonetheless significant, especially for decision making in business. They reflect social costs and benefits, tensions between individual and corporate interests, and all internal and external considerations which enter into decision making in business. It is precisely within opportunity cost decision making that Primeaux and Stieber situate business ethics.
|Keywords||Philosophy Ethics Business Education Economic Growth Management|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
Michael J. Fischer (2000). Luca Pacioli on Business Profits. Journal of Business Ethics 25 (4):299 - 312.
Marty Stuebs & Li Sun (2010). Business Reputation and Labor Efficiency, Productivity, and Cost. Journal of Business Ethics 96 (2):265 - 283.
Thomas Kelly (2004). Sunk Costs, Rationality, and Acting for the Sake of the Past. Noûs 38 (1):60–85.
John Stieber & Patrick Primeaux (1991). Economic Efficiency: A Paradigm for Business Ethics. [REVIEW] Journal of Business Ethics 10 (5):335 - 339.
Stanley Martens & Kevin Stevens (1994). The Fasb's Cost/Benefit Constraint in Theory and Practice. Journal of Business Ethics 13 (3):171 - 179.
Sandra L. Christensen & Brian Grinder (2001). Justice and Financial Market Allocation of the Social Costs of Business. Journal of Business Ethics 29 (1-2):105 - 112.
Patrick Primeaux & John Stieber (1999). When MR = MC: Ethical Efficiencies in Valuing and Pricing. [REVIEW] Journal of Business Ethics 18 (2):201 - 211.
Alfonso R. Oddo (2001). Healthcare Ethics: A Patient-Centered Decision Model. [REVIEW] Journal of Business Ethics 29 (1-2):125 - 134.
Patrick Primeaux & John Stieber (1994). Profit Maximization: The Ethical Mandate of Business. [REVIEW] Journal of Business Ethics 13 (4):287 - 294.
Added to index2009-01-28
Total downloads15 ( #119,681 of 1,413,281 )
Recent downloads (6 months)1 ( #154,925 of 1,413,281 )
How can I increase my downloads?